With projections indicating that cheque fraud will grow by 25% each year, this type of fraud is one of the fastest growing financial crimes today. Read the top 10 ways to avoid cheque fraud: Top 10 Ways to Avoid Cheque Fraud:

James McAuley is a Partner in KPMG's Forensic practice based in Toronto. With more than 25 years' experience in investigations, forensic accounting and civil litigation, he has investigated investor, employee and management fraud, insurance fraud, breaches of trust, financial statement fraud, earnings management irregularities and corruption. Projects under his review have involved amounts into the millions of dollars.

Jasbir Anand

As CIBC's senior director of fraud strategy, Jasbir Anand is responsible for providing leadership and guidance in the development of an overarching fraud strategy to control and reduce retail and Upcoming CIBC webinars for business owners business banking fraud for CIBC. Jasbir has managed and developed enterprise risk-management solutions that include anti-money laundering, credit risk management, payment card fraud, retail bank fraud, e-commerce and e-banking fraud.

by CIBC

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by CIBC5/28/2014 4:36:37 PM

James and Jas are in the building. The countdown to our webinar begins!

by CIBC edited by CIBC5/28/2014 4:40:53 PM

by CIBC5/28/2014 4:45:00 PM

Hello, everyone! Shortly before the event starts today at 1:00 p.m.. EST, a video feed will be added above this chat where you will be able to watch the webinar. Through this chat feed, you can submit your fraud questions and we'll share some of the best ones with James and Jasbir to answer live throughout their presentation. All you have to do is hit "Make a comment," sign in, add your comment, and your question will go into moderation. Please note, we may not be able to get to all of your questions but we'll fit in as many as we can!

by CIBC5/28/2014 4:53:32 PM

Hi everyone, we'll be ready to get started in 5 minutes! Think about questions you want to ask about fraud-prevention. When you're ready, click make a comment, sign in, add your comment and your question will go into moderation. We will be sharing questions with James and Jas to answer intermittently throughout the presentation.

by CIBC5/28/2014 4:55:22 PM

Friendly reminder: If you would like to receive a CIBC Tip Sheet on Fraud Prevention, please complete the form to the right of the webinar.

by CIBC5/28/2014 5:01:18 PM

Fraud is really two degrees of separation from any one person.

-- James

by CIBC5/28/2014 5:03:01 PM

Most frauds are “low impact, low value”, but they are still a cause for real concern.29% may be classified as “high impact” activities.

by CIBC5/28/2014 5:03:24 PM

73% of fraud is committed alone vs. with others

by CIBC5/28/2014 5:03:49 PM

What are the warning signs when fraud might be taking place?

by Jason5/28/2014 5:03:51 PM

69% of fraud is internal to the organization vs. external.

by CIBC5/28/2014 5:04:10 PM

The majority of fraud occurs for less than 1 year before it’s discovered.

by CIBC5/28/2014 5:04:34 PM

69% of fraudsters are between the ages of 30 and 49

74% of fraudsters are male; 26% are female

by CIBC5/28/2014 5:05:25 PM

22% of fraudsters may be classified as senior management

by CIBC5/28/2014 5:05:57 PM

@Jason: Thank you for the question. James will address your question shortly.

by CIBC5/28/2014 5:06:14 PM

What are the potential costs of Fraud?

by Sarah5/28/2014 5:06:35 PM

by CIBC5/28/2014 5:06:49 PM

@Sarah: Most frauds are “low impact, low value”, but they are still a cause for real concern. Keep watching for more great information.

by CIBC5/28/2014 5:08:19 PM

Around 20% of people will take advantage of a situation when the occasion arises.

by CIBC5/28/2014 5:09:00 PM

What are the key elements of fraud prevention strategy?

by Jessica5/28/2014 5:11:36 PM

People who are committing fraud will always have a reason as to why they're driving that new car, whether it's inheritance or the lottery... these are the things we need to be aware of -- there may be more behind these stories... keep your vision open to what is happening within an organization and raise reasonable questions.

- James

by CIBC5/28/2014 5:12:21 PM

Facing Fraud – What Not to do as soon as Fraud is Suspected:

• Do not confront the employee• Do not start rummaging around and “investigating”• Do not copy emails or computer data without the assistance of qualified experts and advice• Do not start conducting interviews without a plan of action and advice• Do not terminate or suspend the employee

by CIBC5/28/2014 5:12:47 PM

What is the best course of action when a fraud is detected?

by Jess5/28/2014 5:12:55 PM

@Jess: Thank you for the great question. James is providing some great tips right now.

by CIBC5/28/2014 5:13:35 PM

Facing Fraud – What to do When Fraud Suspected:

• Get qualified and experienced advice before you do anything• Consult legal counsel and get investigative assistance• Take steps with experts to secure relevant records (hard copy and electronic)• Handle the matter with discretion until the facts are clear and don’t confront and dismiss or suspend employee without careful consideration with your ‘team’• Decide on objectives• Develop an investigation plan and strategy• Consider removing the employee (after consulting legal and investigative team first) if one is suspected • Notify insurer

by CIBC5/28/2014 5:13:59 PM

How can you lower the incidence of false alerts for fraud?

by Has5/28/2014 5:15:45 PM

After fraud has occurred, or in anticipation of fraud, there are many steps that can be taken. The first casualty when fraud comes is trust.

- James

by CIBC5/28/2014 5:16:27 PM

Benefits of a Fraud Risk Assessment

by CIBC5/28/2014 5:17:12 PM

A fraud risk assessment is a critical step to properly understand andevaluate risks and design a plan to minimize and control that risk. It's practical rather than theoretical.

- James

by CIBC5/28/2014 5:17:33 PM

@Has: James says that "fraud is not something you will encounter everyday". Keep watching for more information on how to detect false alerts.

by CIBC5/28/2014 5:17:50 PM

The Basics:

• It’s imperative that there be a consistent message and appropriate “tone at the top”• Consistent and thorough pre-employment screening• Robust and properly implemented code of conduct• Effective whistleblower hotline – confidential, anonymous, secure• Third party due diligence – who is the organization doing business with?• Determine the appropriate role of Internal Audit in respect to fraud issues

by CIBC5/28/2014 5:18:10 PM

Great tips on fraud prevention from James. Jas will be speaking on payment fraud shortly.

by CIBC5/28/2014 5:20:17 PM

Percent of organizations that reported payments fraud occurring through the corresponding methods: